100% Leased Medical Office Building on Western at 11.1% Cap
No Longer Available For Sale
10725 S. Western Ave.
Chicago, IL 60643
4,660 SF
Medical Office
The Details
- 4,660 SF medical office building
- New lease signed in 2016 for 2,330 SF first floor
- Second floor is leased to long-term medical office tenant
- Est. 2017 Income: $67,018
- Est. 2017 NOI: $52,248
- Est. Cap Rate: 11.1%
- Recent improvements: new roof, new exterior stairs, re-paved lot
- Traffic Count: 28,700 cars daily
- Land Area: 7,500 SF
- Zoning: B1-1
- Part of Western/Rock Island TIF
- Taxes (2015): $7,975
In the heart of Beverly, this 4,660 square foot office building is 100% leased to two medical tenants. The 2,330 square foot first floor has a new lease signed in 2016. A long-term medical tenant occupies the entire second floor. Several capital improvements have been completed recently including a new roof, new concrete exterior stairs and a repaved parking lot. The property will generate an estimated $52,000 of net income in 2017, providing an 11.1% return.
Beverly is a largely middle class neighborhood on the far south side of Chicago. Western Ave. is a major thoroughfare for the area, with more than 28,700 cars passing this office building daily.